Champions League winner odds: Red-hot Barca the 4/1 favourites

Liam Flin Telegraph Media Group Betting Writer Show biography

Liam spent more than seven years working for Spotlight Sports Group, tipping and providing content for the Racing Post sports desk, bet365 and Betfred among others, before joining the Telegraph Media Group in June 2025. An NCTJ Gold Standard journalist, he loves European football, cricket, tennis, e-sports and TV betting. In his role as Telegraph Media Group Betting Writer, he covers these in tipping articles and content assessing bookmakers and the latest betting offers.

The greatest club football competition on the planet, the Champions League, returns this week following the international break with some cracking ties on matchday two.

Ahead of fixtures such as Atletico Madrid vs Manchester United and Manchester City vs PSG, here is a look at the latest outright prices, which have shifted since the opening round of games.

Barcelona opened their Champions League account with a 5-1 thrashing of Feyenoord on matchday one, while they have a 100 per cent record in La Liga, so it is no surprise to see them installed as 4/1 favourites to lift the trophy.

Last season’s finalists PSG and Arsenal are next in the betting at 5/1 and 11/2 respectively, with Bayern Munich also 11/2 to go the distance.

Here is a look at the latest outright prices for the Champions League with Betfred, along with my assessment of where the value may lie.

Odds courtesy of Betfred. Correct at the time of publication and subject to change

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Following the draw for the Champions League, Barcelona were cut to 11/2 in the outright betting and they have since shortened to 4/1 following an exceptional start to the 2026-27 season.

Not only did Hansi Flick’s men lay down a marker with an opening 5-1 thrashing of Feyenoord in this competition, but they have also looked untouchable in La Liga, winning all eight of their matches and scoring 34 goals in the process to create a five-point lead at the top.

Attacking talents Lamine Yamal, Raphinha and Anthony Gordon have been devastating this season, while Rodri’s experience has been key in the heart of midfield.

The core of the team features a number of Spain players who won the World Cup in the summer and it is fair to say they are the team to beat in Europe at the moment, although we will learn more about their prospects after they face PSG on matchday three and Manchester City on matchday six.

Remaining league-phase games: Galatasaray (A), PSG (A), Aston Villa (H), Sabah (A), Manchester City (H), Sporting Lisbon (A), Como (H).

CHAMPIONS LEAGUE WINNER 2026-27

Holders PSG did not make the most convincing of starts to the season, failing to win any of their opening three games in Ligue 1 against Rennes, Lille or Monaco.

But the 6-1 thrashing of Slovan Bratislava on matchday one of the Champions League seems to have acted as a catalyst for Luis Enrique’s men, who have since won three domestic fixtures on the spin.

The core of their squad is still exceptional and exciting young talents such as Maghnes Akliouche, Mika Godts and Dro Fernandez should keep the old guard on their toes.

It has often been the case with Enrique’s PSG that they peak later in the season, so we should not read too much into their performances in the league phase, given they won the Champions League in each of the last two campaigns after finishing 15th and 11th at this stage.

Remaining league-phase games: Manchester City (away), Barcelona (home), Villarreal (A), Roma (H), Aston Villa (A), Como (A), Galatasaray (H).

CHAMPIONS LEAGUE WINNER 2026-27

Arsenal were quarter-finalists in the Champions League in 2023-24, semi-finalists in 2024-25 and runners-up in the competition last season. The question is whether they can continue that trend and go one better this season.

The Gunners once again demonstrated the attritional and defensive natured that is so well suited to the Champions League knockout stages when beating Napoli 1-0 away from home on matchday one.

That was a key win given they have Lille and Bayern Munich to come in their next two matches in the competition and there has been some cause for concern for the Gunners.

They still look short in the final third, especially when injuries hit, and the 3-0 loss away to Brighton in their final game before the international break was eye-opening.

But they were worthy league-phase winners last season and are generally a tough team to beat, so they probably look about right at 11/2 in the outright betting.

Remaining league-phase games: Lille (H), Bayern Munich (A), Slavia Prague (A), Borussia Dortmund (H), Real Madrid (H), Real Betis (A), Sabah (H).

CHAMPIONS LEAGUE WINNER 2026-27

I considered Bayern to be the value pick in the Champions League outright betting after the draw and I would still suggest they are worth getting behind at odds of 11/2 to lift the trophy.

Punters should not read too much into their draws with Schalke and Augsburg in the early stages of this season and they are still unbeaten in the Bundesliga with 11 points from a possible 15 this term.

Their 5-0 thrashing of Bodo/Glimt last month sent out a reminder of how devastating they can be, especially at the Allianz Arena, where they had 12 shots on target in that game.

They visit Viking next before tougher tests against Arsenal and Atletico Madrid before the winter break and, if they can keep Harry Kane and Michael Olise fit, they should go far.

Remaining league-phase games: Viking (A), Arsenal (H), Atletico Madrid (A), Lille (A), Slavia Prague (H), Manchester United (A), Real Betis (H).

CHAMPIONS LEAGUE WINNER 2026-27

Real Madrid were around the 13/2 mark to win the Champions League before their opening game but have since drifted to 7/1, despite opening with a resolute 2-1 win over Inter at the Bernabeu.

That said, Real were not the most convincing winners in that game, with Inter regularly creating chances, and both their goals were the result of individual mistakes by Inter players.

Their results in La Liga have been decent but they have looked some way off Barcelona, losing away to Real Betis and Atletico Madrid already this term.

Jose Mourinho is still getting to know this team and I anticipate more slip-ups this season.

They should progress to the knockout stages but I would worry for them against stronger and more organised opponents deeper in the competition, so I’m happy to leave alone their odds of 7/1.

Remaining league-phase games: Roma (A), RB Leipzig (H), AEK Athens (A), PSV (H), Arsenal (A), LASK (H), Shakhtar Donetsk (A).

CHAMPIONS LEAGUE WINNER 2026-27

Even before the news broke that they had been found guilty of almost all of the 115 Premier League charges relating to financial breaches, Manchester City had been on the drift in the Champions League betting and they remain 9/1 shots.

On Sunday, they showed that they are not letting the off-field issues get to them on the pitch with a swashbuckling 3-0 win over Liverpool and they have the players to go deep in this competition.

That said, I would be reluctant to get involved with them at the moment given the uncertainty hanging over the club.

Liverpool and Manchester United are next in the betting at 14/1 and 25/1 but neither are particularly appealing, but Inter could be the outside pick at 33/1.

They once again look like the standout team in Serie A this season and they were unlucky not to get something from their opening game in this competition away to Real Madrid.

They do not have the deepest squad around but they are well drilled under Cristian Chivu and were runners-up as recently as the 2024-25 season.

Odds in this article are correct at the time of publishing but subject to change.